Indian shares extend winning run as US trade talks hopes lift sentiment

MUMBAI: Indian shares extended their winning streak on Wednesday, boosted by hopes of progress in trade talks with Washington and growing expectations of a US rate cut next week.

The Nifty 50 rose 0.42 percent to 24,973.1 and the BSE Sensex gained 0.4 percent to 81,425.15. While the 50-stock index rose for a sixth straight session, the Sensex has now risen in five of the six trading days.

US President Donald Trump said on Tuesday that his administration is continuing negotiations to address trade barriers with India and that he would talk to Prime Minister Narendra Modi, raising hopes of a deal after weeks of discord.

“US rate cuts and clarity on tariffs can set the stage for India to break away from being an underperformer in the emerging markets,” said Priyam Shah, partner at Falcon Capital Partners.